CBOE To Enable Bitcoin Futures Trading December 10

The Chicago Board Options Exchange (CBOE) announced Monday that it will begin to offer Bitcoin futures trading options to its customers on Sunday evening. The CBOE announcement said that futures trading will launch at 5:00 p.m. CT on December 10 to coincide with the start of Global Trading Hours, with the following day marking the first full day of trading.

According to CBOE Global Markets' Chief Executive Officer Ed Tilly, the launch is the culmination of roughly six months of preparation with the CFTC. During an appearance on CNBC’s Power Lunch, Tilly suggested that the creation of a transparent market with appropriate oversight could have a “dampening effect on the volatility we’ve seen over the last couple days in Bitcoin.”

The CBOE will provide those Bitcoin futures under the trading ticker symbol XBT. In its press release, CBOE described the offerings as “cash-settled contracts based on Gemini’s auction price for bitcoin, denominated in U.S. dollars.”

As an added incentive, CBOE will initially provide trading at no cost. As Tilly noted in the announcement:

“Given the unprecedented interest in bitcoin, it’s vital we provide clients the trading tools to help them express their views and hedge their exposure. We are committed to encouraging fairness and liquidity in the bitcoin market. To promote this, we will initially offer XBT futures trading for free.”

Meanwhile, CME intends to launch its own trading for Bitcoin Futures on December 18, and Nasdaq has indicated that it will offer similar trading options sometime in 2018.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

Top 10 Biggest Losers

Quotes

The main innovation stemming from Bitcoin is trustless transactions, meaning transactions are fully decentralized and do not rely on a central bank or government. Bitcoin also introduced the primary innovation of blockchain technology; a public ledger where all Bitcoin transactions are recorded indefinitely together with all Bitcoin ‘blocks’ that have been mined to secure the network.

Mission Statement

DCEBrief is committed to focus on bringing issues that matter to your attention, utilizing an “Executive Summary” without fluff and filler. When appropriate, we may also include full length articles. Our mission is to keep you informed with timely information. We will need the cooperation of the mainstream media and the full support of our political leaders and regulators to help promote and not stifle innovation for the better good of mankind.